Navigation Links
Advil or Excedrin? New model helps predict product choices
Date:5/30/2008

In today's world, consumers face a dizzying array of product choices. Most often, there's not just one ideal product; it depends on the individual and the context. A beer might be perfect for relaxing after work; a sports beverage after jogging. And a teenager's ideal beverage isn't the same as a business executive's.

A new study in the Journal of Consumer Research shows that multiple ideals can be accurately discovered and then used to predict the preferences of various segments of the population. The authors, Wayne S. DeSarbo (Pennsylvania State University), A. Selin Atalay (Bilkent University, Turkey), David LeBaron, and Simon J. Blanchard (both Pennsylvania State University), developed a model that locates the ideal product in a given situation on a graph.

This new approach has been sorely needed to understand the complexity of how products meet consumers' needs. According to the authors, "Consumers can have more than one ideal product in a given product category. It is therefore essential to understand this aspect of consumer preferences because it can affect how products are promoted to consumers, how new products are designed, and how products are priced and bundled."

The authors used their model to graph the ideal over-the-counter pain relievera $2.1 billion industry with 11 major brands. They identified three groupings of people"price-conscious consumers," "the athletic segment," and "the anti-medication segment." They collected consumers' judgments on the painkillers' effectiveness in various contexts, such as backaches or flu. Using a survey, the model divided up the market into the various segments and showed significant differences among the different consumer types and situations.

For example, price-conscious consumers consider Advil and Tylenol the most effective painkiller overall, but if suffering from a backache, they would be more likely to choose aspirin, or Excedrin for a headache. These differences have been hidden by simpler models.


'/>"/>

Contact: Rudy Faust
rfaust@press.uchicago.edu
773-834-0386
University of Chicago Press Journals
Source:Eurekalert

Related medicine news :

1. Moonview Sanctuary Releases First Case Study of Client Treated Using Unique Moonview Model
2. Pharsight Invited to Present on Modeling and Simulation at ARCS Australia Scientific Congress
3. Intrabody can mop up mutant protein in Huntingtons disease model
4. Researchers develop first transgenic monkey model of Huntingtons disease
5. Partnership of academic centers and community hospitals effective model for disseminating advances
6. Medsn to Become Indegene Pharmaceutical Solutions, Inc.: Change Signifies the Success of Its Innovative Global Services Model
7. Federation of State Medical Boards Takes Interim Steps Toward Maintenance of Licensure Model Policy
8. Pharsight Invited to Present on Antiviral Modeling and Simulation at DIA Adherence Workshop
9. Spinal cord injury research hampered by animal models, says new study
10. Versus Technology, Inc. Announces Collaboration with Cleveland Clinic to Create Clinical Patient Flow Model
11. Zimmer Announces New Compliance Model
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/5/2016)... (PRWEB) , ... December 05, 2016 , ... Dr. Barry ... Avenue Cosmetic Plastic Surgery, who recently participated in the 36th Annual Cutting Edge Aesthetic ... of the newest techniques for getting that perfect, yet natural-looking, nose. Dr. Weintraub, who ...
(Date:12/5/2016)... ... December 05, 2016 , ... ... ("GPP") portfolio company, today announced it has acquired the assets of Frankfurt, ... previously a subsidiary of Chiltern International and focuses on clinical trial drug ...
(Date:12/5/2016)... ... ... has joined the Retina Group of New York (RGONY) specializing in uveitis and ... and has been providing tertiary medical and surgical retinal care on Long Island for over ... peers. Growing up in a family of doctors, Dr. Shah emulated the role of ...
(Date:12/5/2016)... ... December 05, 2016 , ... Houston ... 2016 Anti-Aging & Beauty Awards at The Aesthetic & Anti-aging Medicine European ... European Congress (AMEC) brings together the industry’s leading scientific experts, speakers, clinicians, ...
(Date:12/4/2016)... ... December 03, 2016 , ... ... to funding innovative lymphoma research and serving the lymphoma community through a comprehensive ... Swirl: A Wine Tasting Event in New York City, with long-time partners The ...
Breaking Medicine News(10 mins):
(Date:12/5/2016)... -- Several leading Alzheimer,s disease experts will participate in ... 11 a.m. EST on December 6 in advance of ... Alzheimer,s Disease (CTAD). The program will include discussions on ... targets that address deficient glucose metabolism observed in Alzheimer,s ... another therapy targeting the amyloid hypothesis, now more than ...
(Date:12/5/2016)... and BOCA RATON, Fla. ... Florida Institute for the Commercialization of Public Research ... has finalized a funding agreement SegAna, LLC, an ... developed at University of Central Florida. The Florida ... research, and bridges early funding gaps for companies ...
(Date:12/5/2016)... , December 5, 2016 According to a ... modalities (Chondrocyte Transplantation, Growth Factor Technology, Tissue Scaffolds, Cell-free composites), Application ... MarketsandMarkets, the market is projected to reach USD 779.8 Million by ... of 13.5% during the forecast period of 2016 to 2021. ... ...
Breaking Medicine Technology: